Berkshire boosts Goldman, Teva stakes; buys more Apple

FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo

Buffett, who turns 88 on Aug. 30, often buys stock when he cannot find whole businesses to add to Berkshire's stable of more than 90 companies in the insurance, energy, food and retail, industrial, railroad and other sectors.

The billionaire has gone 2-1/2 years since completing a major acquisition for Omaha, Nebraska-based Berkshire.

Several of the portfolio changes affected bank and airline stocks, reflecting Buffett's usual policy not to own more than 10 percent of a company's shares.

Berkshire said it sometimes exceeds the 10 percent cap when companies whose stock it owns repurchase their own shares, forcing it to sell some of its holdings.

Buffett does make exceptions, including for longtime holdings American Express Co <AXP.N> and dialysis company DaVita Inc <DVA.N>.